Atkinson, A.A., Kaplan, R.S., Matsumura, E.M. and Young, S.M.: Management accounting: Information for decision making and strategy execution, 6th edition, Pearson education limited, Edinburgh, 2012

Dejan Jovanovic
2012 Economic Horizons  
In the book entitled Management Accounting: Information for Decision Making and Strategy Execution, authors Atkinson, A. A., Kaplan, R. S., Matsumura, E. M., and Young, S. M. analyse comprehensively and in detail important issues related to the process of providing managers and employees with fi nancial and nonfi nancial information related to decision making and resource allocation, in accordance with a company's strategies as well as the process of the monitoring and evaluation of
more » ... tion of performances. The purpose of the book is to provide the basic theoretical, categorical and methodological frameworks of management accounting. In broad terms, it is intended for all information users in business decision making, and, above all, for all those involved in the education process and the management of the profi t and non-profi t sectors. Furthermore, the authors depict, a large number of practical examples managers encounter in their business in a comprehensive, detailed and informative manner, which can be considered very useful. The book contains 11 chapters representing the complete whole from both theoretical and practical standpoint. In the fi rst chapter, entitled How Management Accounting Information Supports Decision Making (pp. 25-38), the authors defi ne management accounting and draw a clear demarcation line between management and fi nancial accounting, emphasizing the importance of management and accounting information in strategic and operational decision making. Likewise, in this section, the authors describe the implementation of a company's strategy by using the PDCA (Plan-Do-Check-Act) cycle. The subject of the study in the second chapter is Balanced Scorecard (BSC) and Strategy . The authors point out that the contemporary performance measurement system involves the use of a multidimensional set of performance measures, both fi nancial and non-fi nancial, i.e. measures quantifying the results of the past and those based on which the future is predicted. One such measure is the BSC. Unlike traditional measures starting from fi nancial control, the BSC starts from the organizational vision and strategy. In the chapter, the authors also explain the four basic BSC perspectives (fi nancial, customer
doi:10.5937/ekonhor1203207j fatcat:diekj6pf7jfyrbpbu74h5wc36a